EBA updates on the status of its final Implementing Technical Standards on benchmarking portfolios

The European Banking Authority (EBA), following requests from stakeholders, published today an update on the application date of its final draft Implementing Technical Standards (ITS) on benchmarking portfolios.

The EBA had originally submitted its final draft ITS on benchmarking portfolios to the European Commission in March 2015, proposing 11 April of each year, starting in 2016, as the remittance date for the bulk of the data to be submitted by banks to competent authorities.

Considering that the European Commission has not yet adopted the final draft ITS, it is highly likely that the proposed remittance dates for 2016, which will be specified once the ITS are published in the EU Official Journal, will be postponed and that the remittance date for Initial Market Valuation (IMV) data will be combined with the remittance date for other ITS templates.

The new remittance dates will depend on the timeline of adoption of the ITS by the European Commission.